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A & L Automotive LLC

Panama City Beach, FL · General Automotive Repair · NAICS 811111

A & L Automotive LLC is a general automotive repair business in Panama City Beach, Florida, classified under NAICS code 811111. The company was financed with an SBA 7(a) loan for a change of ownership of $1.15 million, approved on November 14, 2023, by Live Oak Banking Company, with 12 jobs reported.

SBA 7(a) loan, change of ownership, approved Nov 14, 2023

$1,150,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,150,000
SBA-guaranteed amount
$862,500 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
10 years (120 months)
Estimated maturity
November 14, 2033 (estimated, approval date plus term)
Estimated monthly payment
$14,881 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 19, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Bay County, FL
SBA district office
North Florida District Office
Congressional district
FL-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 51% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in Florida: $1,808,559.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Florida